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RBC drops home mortgage rate
% E' e$ V1 u* c' b" G' [Sep. 5, 2006. 12:45 PM
8 [0 _- S9 X% s5 h) \CANADIAN PRESS/ Y+ S% d0 N3 ]& _& u
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Royal Bank of Canada (TSX: RY) has cut long-term mortgage rates by up to a tenth of a point.0 K+ b' l7 N; W" H: ^" z9 \' ]: i5 I
% E5 C) \4 s8 e# M3 ~Canada's biggest bank announced Tuesday it is reducing the posted rate on three-year to 10-year loans by a tenth of a point. The reductions are effective Wednesday.
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At the Royal, a three-year closed term falls to 6.5 per cent, while a five-year loan drops to 6.75 per cent and a seven year loan to 7.25 per cent.5 J# A$ v* D5 v: V( t/ W
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The cuts reflect the lower cost of borrowing in the bond market, where banks finance their mortgage loans. |
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发表于 2006-9-5 20:18
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